Beijing

SINGAPORE and China are working to step up collaboration in five key areas in the financial sector, Deputy Prime Minister Tharman Shanmugaratnam said on Thursday at the end of his five-day visit to China.

Signalling that cooperation between the two countries takes many forms, Mr Tharman said regulators and financial markets on both sides are looking to deepen links with the long-term objective of internationalising the renminbi capital markets and providing sound financial underpinning to China's Belt and Road Initiative (BRI) without causing short-term market instabilities.